For a few months now, I've been talking about the weekly bearish divergence in play for the DXY.
More recently, after topping out at around 114.77, we are starting to see more signs of weakness. The momentum shift continues to build up.
If this parabolic trend breaks and the DXY fails to go higher than 114.77 soon, we could be seeing a massive correction coming up.
More recently, after topping out at around 114.77, we are starting to see more signs of weakness. The momentum shift continues to build up.
If this parabolic trend breaks and the DXY fails to go higher than 114.77 soon, we could be seeing a massive correction coming up.
Note
DXY showing more signs of weakness lately with a failure to sustain higher levels and printing lower highs on the RSI.Note
DXY is still failing to make a higher high with a local double top at around 113.94. Unless DXY is able to break above that soon, this is showing signs of weakness.Note
Correction in progress. I'd like to see a lower low on the DXY to confirm a stronger downtrend.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.